It is very often the case that the clients we speak to have been advised over the years into their retirement on how to invest their wealth but not on how to structure their wealth and in this in many cases has caused serious implications from a succession planning and inheritance tax point of view.

Holding assets in multi-jurisdictions could result in holding an estate in each country where these assets are held and this requires careful estate planning and probate mitigation plans. During the initial stages of our advice process, when we look at succession planning, we find it frustrating that one spends a lifetime accumulating wealth only to find that nothing has been done to ensure that their world-wide assets are removed from probate both in their country of residence and in each jurisdiction where assets are held.

The administration of your estate after your death (international probate) is a very lengthy and costly process. Because of the costs of court involvement in the probate process and the potential for involvement of lawyers who collect fees from the estate of the deceased, we recommend that our clients move their assets out of their own name to avoid the complicated and often messy task of distributing the assets of your estate upon your passing.

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